Overview
Tower Bay Asset Management LP (“Tower Bay”), a Delaware limited partnership, was founded
by Mr. William Hauf and Mr. Keith Friedman in September 2021. Tower Bay offers investment
management services on a discretionary and non-discretionary basis to onshore and offshore
pooled investment vehicles (“Funds”), private funds subject to an offering made pursuant to
exemptions provided in the securities act of 1933 and rules thereunder (“Private Funds”) and
separate managed accounts (“Managed Accounts”) (and together “Client(s)”).
Tower Bay primarily offers advice on fixed income securities, including, but not limited to,
municipal bonds and corporate bonds and loans. To a lesser extent, Tower Bay also offers advice,
for hedging purposes and investment, on both exchange-traded and over-the-counter equity
securities, commercial paper, United States government securities, futures and options
contracts.
Tower Bay sponsors and currently provides investment management services on a discretionary
basis to the Tower Bay Municipal Bond Opportunity Master Fund L.P. (the "Municipal Bond
Fund”) and may offer other Private Funds to investors in the future. Tower Bay’s Municipal Bond
Fund is organized in a master-feeder structure. The Municipal Bond Fund investor base is limited
to qualified investors who meet the definition
of an “accredited investor” under Rule 501 of
Regulation D of the Securities Act.
Tower Bay also serves as sub-advisor to segregated portfolios of unaffiliated Private Funds and
Funds which qualifies as an Undertaking for Collective Investments in Transferable Securities (a
“UCITS”), that are sponsored by unaffiliated, SEC registered investment advisers.
Tower Bay offers advisory services to Managed Accounts and unaffiliated Private Funds in
accordance with the investment objectives as specified in the pertinent sub-advisory or
investment management agreements with the Client. Tower Bay and/or an affiliate may also
present co-investment opportunities to prospective investors or enter individual consulting
contracts with Clients.
Tower Bay tailors its advisory services to the investment objectives of its Clients. In general, for
any underlying investors of a Fund or a Private Fund, the investors may not impose restrictions
on investing in certain securities or types of securities.
Mr. William Hauf and Mr. Keith Friedman are the principal owners of Tower Bay.
As of February 29, 2024, Tower Bay manages $413,819,838 in regulatory assets under
management on a discretionary basis. Tower Bay also manages a non-discretionary account that
has zero regulatory assets under management as of February 29, 2024.